After seven years of working towards consolidating, updating, and improving the Housing Quality Standards (HQS) and the Uniform Physical Condition Standards (UPCS) to implement a single inspection protocol for HUD-assisted units, HUD recently published the final rule for the Physical Inspection...
Before you rent any unit at your tax credit site to a new household, it’s important to confirm that the rental will comply with the tax credit law. If your rental of a unit won’t comply, the owner’s credits for that unit may be at risk. And if the unit is one you must count to...
The spring season’s warm weather and rainy days may motivate you to conduct a thorough spring cleaning of your office files. But before you clean out your file cabinets or declutter your computer files, it’s important to review the LIHTC program’s recordkeeping and retention...
HUD recently awarded $54 million to 182 fair housing organizations across the country under its Fair Housing Initiatives Program. These grants allow the organizations to provide fair housing enforcement by conducting investigations, testing to identify discrimination in the rental markets, and...
HUD recently released its final rule for implementing the remaining Housing Opportunity Through Modernization Act (HOTMA) provisions. HOTMA was a bipartisan bill that sought to align and streamline public housing and HUD multifamily programs. For these programs, the changes under HOTMA touch...
The IRS recently issued Notice 23-03, which contains the 2023 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
Last year, the IRS made a rare midyear mileage rate adjustment in June as a way to...
You probably know that each time you certify or recertify a household at your site, you need to determine the cash value of the household’s assets and the income those assets are expected to generate over the next year. It may be the case that increasingly more applicants and households...
HUD recently requested public comment on plans to implement the key changes the VAWA Reauthorization Act of 2022 (VAWA 2022) made to the Violence Against Women Act of 1994. Since the 2013 amendments, VAWA has applied to the LIHTC program. However, neither the Treasury Department nor the IRS has...
Personal retirement accounts can be tricky to navigate when completing income certifications. They can be considered assets or income depending on if the resident has access to the retirement account funds and if distributions are regular and periodic or sporadic. Generally, when the regular...
